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TradeSanta Review – A Solution to Automate All Your Crypto Investments

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TradeSanta Review - A Solution to Automate All Your Crypto Investments

Trading techniques are easy to automate using TradeSanta, a cloud-based software platform. 

Plug-and-play, active Telegram community and round-the-clock customer assistance are features of the system. In order to give you a rough understanding of how this system operates, we’ll focus on the platform’s most essential aspects in our review below.

What Is TradeSanta?

A crypto trading platform for automatic trading, TradeSanta launched in 2017 and is now available to everyone willing to automate their crypto investments. 

A social trading marketplace and three automatic trading bots are available through the service. In our in-depth review below, you will learn all you need about TradeSanta, the crypto trading bot station.

Create Your Bot

You can begin by clicking “Create Bot” on the TradeSanta dashboard, and the wizard will take care of everything else for you. 

If you’re using a trading bot, you’ll need to link it to an exchange and choose a currency pair among the ones that are accessible there. 

You will need to select a plan from the templates and customize it to your liking (e.g., use a trading signal, close the position after a profit of 10%, etc.). Once you’ve got everything the way you want it, it’s time to turn the bot on.

Dollar-Cost Averaging Bots

You can create automated trading bots in less than 10 minutes using TradeSanta’s bot-building platform. 

However, you must first link a supported exchange account before beginning to build and use a bot. Select “Access Points” from the drop-down menu and enter your API keys. Upon completion, your DCA, Grid, and Futures bots will be ready to go live on the market. 

Investing in the same cryptocurrency regularly for an extended time falls in the Dollar-Cost Averaging (DCA) category. 

This strategy aims to protect you against market uncertainty. It’s possible to open long and short positions using DCA bots on TradeSanta.

When the price of a cryptocurrency drops by a specific percentage, the Extra Order tells the bot to acquire more cryptocurrency. “Averaging Down” is a term used to describe this strategy, which lowers the average price of your position. 

You can control the number of times TradeSanta executes an Extra Order. A stop-loss is also available if you think you need a further layer of protection. If you want to put a stop loss in place, you have to give the Bot a percentage, and the system will do the rest. 

Remember that the system will instantly close your trade if the price falls below this threshold. 

DCA bots can automatically discover entry targets using three technical indicators: MACD, RSI, and Bollinger Bands. That being said, there is a limit to how many automated rules you can activate at one time for each bot.

Other Popular Bots

Automated trading robots can implement the Grid approach. In order to take advantage of normal market volatility, grid trading involves placing strategic buy and sell orders within a specific price range. 

Grid bots tend to be particularly effective when a coin is trading sideways or within a clearly defined range. 

Grid bots, like DCA bots, may be long or short and need a reserve currency and an exchange to trade on. Furthermore, selecting your chosen “Take Profit” percentage is a good idea. Everything we mentioned about “Extra Orders” in the previous section also applies to Grid bots.

All Grid bots have the same three technical indicators as the DCA bot, including regular and trailing stop losses.  

Grid bots may receive personalized TradingView signals. Custom signals, however, aren’t available on all the trading pairs.

These bots open a sell order for each executed purchase. So if your bot opens a buy order with 4 “Extra Orders,” it will place five sell orders on the market. On the other hand, a DCA bot would only make one sale at a time.

Besides DCA and Grid bots, TradeSanta enables you to construct Futures Bots for use on the Binance Futures market. TradeSanta’s most costly plan is the only way to access this function.

Making a Futures trading bot is similar to creating a standard DCA bot once you’ve connected your Binance Futures account with its API credentials. It’s merely a matter of specifying a leverage amount (i.e., the whole amount you plan to borrow). 

Unless you have sufficient collateral, the bot will not begin trading with the amount of leverage you’ve entered. Only one-way positions and contracts in US dollars are available for trading.

Entering the Social Trading World

Over 500 trading bots are now available to follow on TradeSanta’s marketplace. Most of the bots on the exchange come from other users and have different risk and profitability levels. 

In order to engage in social trading on TradeSanta, you’ll need a Binance Futures account. In addition, you’ll see that the system divides bots into “long” and “short.”

A Bot may be up and running with TradeSanta in only two clicks. The developers have worked to make this platform as much user-friendly as possible. 

Select a bot you want to follow, press “Copy,” and click “Start Bot.” Your live Bot will mimic the transactions it is tracking at once.

Joining TradeSanta

Creating an account is as simple as picking a username and password and giving an email address. Once you’ve filled out the form and sent it in, you’ll receive a confirmation email with further instructions. 

Once you’ve logged in, you’ll need to pick a plan, so go to “Settings” and click “Top-up” to deposit money. 

Send the deposit to the address provided by entering the amount in USD. Once the transaction is over, the portal will update your balance. Choose one of the plans you’d like to purchase, and then go ahead and start building bots.

TradeSanta Security

Any time you trust someone else with your money, whether it’s a custodial exchange or a trading bot, you’re running a risk. If the program is new or its developers did not test it well enough, there’s always the risk of it malfunctioning. 

Losses resulting from sudden issues, such as a flash crash, are also possible. As long as bots are just executing user input, people must be watchful and rely on their judgment. To put it another way, you should not see a trading bot as a perfect replacement for a methodical approach to trading. 

Besides this premise, users of TradeSanta haven’t reported any severe security vulnerabilities on the system.

The TradeSanta API will only be able to perform orders on your behalf. Withdrawals from your account will be impossible if you set up the API correctly.  

Finally, it is worth mentioning that two-factor authentication (2FA) is a security feature that is available on TradeSanta.

Final Thoughts

TradeSanta is a crypto exchange trading automation software that operates in the cloud. It doesn’t matter if you’re online or not: TradeSanta will continue to watch the markets and execute deals through cloud technology. 

You can use TradeSanta bots to trade cryptocurrencies on various popular exchanges. Furthermore, the dashboard and mobile applications are straightforward to use. 

Bitcoin coin symbol
Btc
Bitcoin
$62.547
price
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decrease symbol0.84959%
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TRADE NOW

TradeSanta offers a three-day free trial if wish to evaluate this system for your portfolio. TradeSanta has a website and social media accounts where you may learn more about its platform.

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Born in Italy, Gianluca is a finance and data specialist, coming from an academic education at Sorbonne University in Paris and a career as Senior Advisor at Ernst & Young in the Banking and Blockchain sector.

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